New Delhi: India improved its ranking in the global innovation index by five places to 52nd in 2019 from 57th position in the last year, according to a report released Wednesday.
Despite the looming fear of an economic slowdown, 'innovation is blossoming around the world the GII report claims.
Commerce and Industry Minister Piyush Goyal released the Global Innovation Index (GII) rankings here. India ranks 2nd among the middle-income economies in terms of the quality of innovation, with top positions in quality of universities and in quality of scientific publications.
Indian Institute of Technology Bombay, Indian Institute of Science Bengaluru and IIT Delhi feature as the top 10 eductaional institutes belonging to middle-income economies.
The GII rankings are published annually by Cornell University, INSEAD and the UN World Intellectual Property Organisation (WIPO) and GII Knowledge Partners.
Now in its 12th edition, the GII ranks 129 economies based on 80 indicators, ranging from intellectual property filing rates to mobile-application creation, education spending and scientific and technical publications.
Switzerland retained its number-one spot on the index. Other economies in the top 10 are: Sweden, the US, the Netherlands, the UK, Finland, Denmark, Singapore, Germany and Israel.
China which is ranked 14 in the overall list tops the higher-middle income countries list. Vietnam and Rwanda tops the list in the case of lower-middle income countries and low income countries, respectively.
(With inputs from PTI.)